Personal Loan
Fidfly financial services brings personal loan offers from 50+ banks and NBFCs to cater to diverse consumer segments. This allows consumers to compare the key loan features offered by top lenders and then apply for the best option available on their credit profiles. We have also tied up with some of the top banks and NBFCs to offer pre-approved/pre-qualified personal loan with end-to-end digital processing and instant disbursal.
Personal Loan Details -
Personal loan is a short to medium term loan, tenure (12months to 84 months)which consumers can avail to meet both personal and business needs other than speculative purposes.
| Interest Rate | Usually 10.25% p.a. onwards; |
| Loan Amount | Can go up to Rs 50 lakh; some lenders may offer higher loan amounts according to profile. |
| Tenure | Up to 5 years (some lenders offer repayment period till 8 years) with part payment allowed some lenders |
| Processing Fees | 0.5% to 4% of loan amount (may vary across lenders and customer profile) |
Best Personal Loan Offers Provided By Lenders -
HDFC Bank
The rate of interest of HDFC bank start from 10.50% p.a. The tenure of the scheme can go up to 6 years according to profile whereas the loan amount can go up to Rs 40 lakh. HDFC Bank provide within 24 hours disbursement Facility .
| Interest Rate | 10.50% p.a. onwards |
| Loan Amount | Up to Rs 40 lakh |
| Tenure | Up to 6 years |
| Minimum Monthly Salary | Rs 30,000 |
| Age | 21-60 years |
| Credit Score | At least 700 |
| Processing Fee | Up to Rs 4,999 |
ICICI Bank
ICICI Bank Provide personal loan at best interest rate with no any requirement of address proof . ICICI Bank provide personal loan within 72 hours with maximum upto 50 lacs amount at 10.65% rate of interest for upto 6 years according to profile of customer.
| Interest rate | 10.65% p.a. onwards |
| Loan Amount | Up to Rs 50 lakh |
| Tenure | 1-6 years |
| Minimum Monthly Salary | Rs 30,000 |
| Age | Salaried: 23-58 years Self-employed: 25-65 years |
| Processing Fee | Up to 2.5% of loan amount |
Axis Bank
Axis Bank’s Personal Loan provide personal loan for related to wedding, home renovation, travel, medical emergency and much more expenses. Axis Bank Provide personal loan at best rate of interest . If customer salary is more than 15ooo and salary account in axis bank and company listed in axis bank , axis bank provide loan to those customers.
| Interest rate | 10.49% p.a. onwards |
| Loan Amount | Rs 50,000- Rs 40 lakh |
| Tenure | 1-7 years |
| Age | 21-60 years |
| Minimum Monthly Salary | Rs 15,000 |
| Processing Fees | Up to 2% |
IDFC First Bank
IDFC FIRST BANK Provide Personal Loan to meet any of their personal financing requirements. Existing personal loan borrowers of other banks and NBFCs can avail balance transfer facility to transfer their outstanding loan to IDFC First Bank at lower interest rates. The bank also give instant loan disbursement facility.
| Interest rate | 10.75% p.a. onwards |
| Loan Amount | Up to Rs 1 crore |
| Tenure | Up to 5 years |
| Age | Salaried: 23-60 yrs./retirement age, whichever is earlier Self-employed: 25-60 years |
| Credit Score | At least 700 |
| Processing Fees | Up to 3% of the loan amount |
Tata Capital
Tata Capital provides multiple personal loan schemes . It also extends customized schemes for salaried employees, government employees, doctors and women applicants; tata capital provide facility with instant disbursal to select customers and an overdraft facility to applicants seeking higher flexibility in loan repayment.
| Interest Rate | 10.99% p.a. onwards |
| Loan Amount |
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| Tenure | Up to 6 years |
| Age | 21-58 years For Home Renovation: 24-65 years For Education: 16-26 years |
| Minimum Monthly Salary | Rs 20,000 (Rs 15,000 for Government Employees, Salaried Employees, Doctors, Women, Education, Travel Loan) |
| Processing Fees | Depends on customer profile and loan amount. |
Documentation Required for Personal Loan
Personal loan lenders require documents from their applicants to establish their identity, income, loan repayment capacity and place of residence. These documents are more or less the same across lenders. Here are the few common set of documents that you will need to submit when applying for a personal loan:
- Identity Proof: Passport/ PAN Card/ Voter’s ID/ Aadhaar Card/ Driving License
- Address Proof: Passport/ Aadhaar Card/ Lease/ Property Purchase Agreement/ Utility Bills (not more than 3 months old)/ Passport/ Driving License
- Income Proof For Salaried Individuals: Salary Slips/ Bank Account Statement/ Form 16